Thread: Starting a Collector/Exotic Car Time Share/Co-Op?

Any of you guys ever thought about/considered starting your own a “car share” club or co-op with a dozen or so friends? To be clear, I’m not trying to do one through L4P, but my boy and I were just brainstorming about it this weekend.

The idea would be to create a corporate entity to buy, hold, and sell cars. Each member buys in, the cars would be stored in a local warehouse, and all costs of ownership would be split by the club. The members would select weeks to have each car at the beginning of each year, and you could always trade weekends with the other guys. I’ve seen things like this advertised in DuPont and Robb Report, but this would be on a much smaller scale and only with friends.

Any thoughts?

Couple of issues I see right off the bat: insurance for the FLEET of cars with multiple drivers; what happens if a member wrecks a car; what happens if a member can no longer pay his dues; opting out of the club, etc...

But there are just SOOO many cars that I want...ugh!

Sounds cool, but like you said, there could be a lot of issues and all the members would need pretty deep pockets for even a mediocre fleet.

Assuming this works for some reason...I say we start off small and flip some cars into some more substantial purchases. We also have to have a diverse stable...Euro sports car, American muscle, Japanese tuner, luxury cruiser, track toy, etc.

Right off the bat, we could go with: 930 Porsche ($30k), '72 Vette ($20k) or Pre '75 Trans Am ($15k -no more Pontiac = value), EVO/STI/3000GT ($15-20k), '60's Continental like Raw's ($20k), and a Lotus for the track. ($30k)

6 cars for 10-12 guys. That's $120k...$10k per member (Plus other expenses). You would get one of these cars every other weekend.

Enjoy these things for a year, improve them over time...them flip them one by one for a small profit and/or invest a little extra $$$ to get a Quatroporte or a 360....

Who esle is coming with me?!? ;-)

(Yes...I'm bored at work...)